Will Mexico Join BRICS and Abandon the US Dollar in 2024/2025?
The potential expansion of the BRICS economic bloc and its implications for the US dollar are hot topics. Speculation is rife about which nations might join the ranks of Brazil, Russia, India, China, and South Africa. One of the most speculated nations on the brink of joining BRICS and abandoning the US dollar in 2025 is Mexico. The nation has been working to strengthen ties with its North American neighbors, but interest in alternative economic alliances is clearly present.
Mexico and BRICS: A 2024 Perspective
Rumors of Mexico ditching the dollar in favor of a BRICS currency have been circulating. However, a realistic assessment of Mexico's current political and economic landscape is necessary.
As of now, Mexico joining BRICS in 2025 is still unlikely as long as President Obrador is in charge. His current policies and allegiances don't necessarily align with a complete shift towards BRICS. This doesn't eliminate the possibility entirely, though.
The 2025 Mexican General Election: A Turning Point?
The political landscape could drastically shift. The Mexican general election is scheduled for summer 2025. The outcome of this election could significantly influence Mexico's future economic direction and its relationship with BRICS.
The Allure of a BRICS Currency and Latin American Influence
The prospect of a BRICS-backed currency is particularly interesting to Latin American nations. If BRICS currency captures the Latin American markets, the U.S. dollar could be on a path of decline. This potential shift in power dynamics is undoubtedly a factor influencing many countries' considerations.
Mexico and 18 other countries have expressed their interest to explore opportunities with the BRICS alliance. This interest could translate into formal membership applications in the future, especially depending on the results of the 2025 election.
Conclusion: Mexico and BRICS - Watch this Space
While Mexico joining BRICS and abandoning the US dollar in 2024 seems improbable, the 2025 election presents a critical juncture. Keep a close eye on developments in Mexico and the evolving dynamics of the BRICS bloc as the global economic landscape continues to reshape itself.